VRL buys 5 lakh sq ft transhipment hub in Bengaluru for ₹229 crore
The acquisition was funded by internal accruals as well as a term loan of ₹185 crore from HDFC Bank.
VRL Logistics announced that it has purchased a 5 lakh sq ft transhipment hub with an aggregate area of 27 acre for 229 crore at Nelamangala, Bengaluru. VRL has been occupying the facility on a lease basis for the last 10 years.
The acquisition was funded by internal accruals as well as a term loan of ₹185 crore from HDFC Bank.
“The constructed structures thereon comprise of a godown, also other amenities such as canteen building, STP, fuel pump, weighbridge, etc. apart from wthe orkshop and ample vehicle parking space. The company has been in possession of the said premise on a lease basis for over 10 years and has been using the said property for its transhipment operations at Bengaluru,” reads the BSE filing on December 7, 2024.
VRL informed that the hub is critical to the company’s South India operations and the owner sought to dispose of the said property given his old age and perceived inability to monitor it going ahead. It also reported that the hub handles around 3,000 tonnes of cargo daily.
Savings in lease rental was noted as one of the tangible benefits of ownership by VRl. “Presently we are paying a monthly lease rent of ₹1.31 crore including GST. Thereby the annual savings would translate to ₹15.72 crore,” it reads.
The hub is located along the Mumbai – Bengaluru (NH-4 / AH 47), offers connectivity to the southern states and is ideal for connecting the Southern states to Western and Northern India. The area is also near the proposed Queen City township, the planned new Bengaluru airport, the Somapura Industrial Area and the upcoming Vasantnarasapura Industrial areas.
